Streaming wars heat up, Netflix is ready to spend $20 billion in 2020

Netflix will be spending $20 billion throughout 2020 to keep people on their platform.

@JakConnorTT

Published Feb 3, 2020 3:09 AM CST
Updated Nov 3, 2020 11:45 AM CST

48 seconds read time

Netflix has been ruling the roost of streaming platforms for quite a while now, but as time goes on, the biggest streaming platform has some competitors plotting in the slums.

Streaming wars heat up, Netflix is ready to spend $20 billion in 2020 | TweakTown.com

Those competitors are Amazon's Prime Video, Disney's Disney Plus, Hulu, Apple and HBO Max. As more and more people are convinced to head on over to other streaming platforms that aren't Netflix, Netflix has to think of strategies to keep new customers as well as keep their old ones. According to a new report from DataDads, Netflix is spending five times more money on content for its platform than it did five years ago.

DataDads acquired this knowledge from Netflix's recent earnings report, which revealed that the company is planning on spending $20 billion new content for 2020. This figure includes new shows, licensing deals, programming, and more. During 2018, Netflix spent $12 billion on programming new content, and back in 2015, the streaming service only spent $4.5 billion.

NEWS SOURCES:bgr.com, datadads.com

Jak Connor

Jak joined the TweakTown team in 2017 and has since reviewed 100s of new tech products and kept us informed daily on the latest science, space, and artificial intelligence news. Jak's love for science, space, and technology, and, more specifically, PC gaming, began at 10 years old. It was the day his dad showed him how to play Age of Empires on an old Compaq PC. Ever since that day, Jak fell in love with games and the progression of the technology industry in all its forms. Instead of typical FPS, Jak holds a very special spot in his heart for RTS games.